The output effects of reforms: empirical evidence from 90 countries

Authors

  • Christos Mavrogiannis Department of Economics, University of Patras, Greece
  • Athanasios Tagkalakis University of Patras

DOI:

https://doi.org/10.17811/ebl.14.3.2025.126-133

Keywords:

structural reforms, growth, deregulation, liberalization

Abstract

Utilizing a new annual dataset of structural reforms covering 90 countries from 1973 to 2014, we investigate the long-term effects of major reform shocks on growth. By applying the local projection method and addressing reform endogeneity with the Augmented Inverse Probability Weighted estimator, we find that reforms have a positive long-term effect on growth. Advanced economies reap the greatest benefits of reforms in the long term, while emerging market economies benefit in the short to medium term. Low-income countries enjoy only limited positive effects from reforms.

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References

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Published

23-06-2025

How to Cite

Mavrogiannis, C., & Tagkalakis, A. (2025). The output effects of reforms: empirical evidence from 90 countries. Economics and Business Letters, 14(3), 126–133. https://doi.org/10.17811/ebl.14.3.2025.126-133

Issue

Vol. 14 No. 3 (2025): September

Section

Articles

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